December NBS Price Data in Chinese Cities With Home Price Restrictions

China’s National Bureau of Statistics (NBS) released its monthly report on home sale prices (LINK). The report provides less coverage and less detail than the private Fang/Soufun 100 city index which has not yet been updated for December. The NBS report still provides some insight into the impact of housing market restrictions introduced in leading Chinese cities:

Under the present circumstances lower prices are good news because they mean it will not be too long before restrictions are eased and successful property developers can return to a normal operating environment. By July the 1 year price change in most of these cities will be under 10% and policy relaxation may begin.